Rs 9 Lakh Crores Back In System After Demonetisation: SBI

Posted By: Religare
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State Bank of India (SBI) chairman Arundhati Bhattacharya has said that about Rs 9 lakh crore of close to Rs 13 lakh crore, which was out of the economic system, has already come back post demonetisation.

Rs 9 Lakh Crores Back In System After Demonetisation: SBI
Commenting on the issue, SBI chairman Arundhati Bhattacharya told the media, "Much of the money that was in system has come back. About Rs 15.44 lakh crore was in the system out of which some as in the banks. However, around Rs. 13 lakh crore was out the system, out of which Rs 9 lakh crore has already come back."

"Now only about Rs 4 lakh crore money is out of the system and this is also expected to come back to the system in one and half months' time. Full liquidity will be established in the market by the end of February this year," she added.

The SBI chairman also denied reports that the demonetisation has affected the tea gardens of the country and said that the tea garden workers had been receiving their wages in cash in the past.

Read more about: sbi, demonetization
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